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2013 and earlier-Subaru Forester Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi gigoypotpot. Subaru is not currently providing support on 24 month leases of any model. As a result, you would be much better off going with a 36 month lease of this vehicle. Chase's (Subaru runs all of its special leases through them now) current buy rate lease money factor and residual value for a 36 month lease of a 2010 Forester 2.5X with 15,000 miles per year are .00230 and 59%, respectively. The numbers for an otherwise identical '09 model are .00075 and 53%.

    Car_man
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  • Hi gigoypotpot. I can understand why you wouldn't want anything longer than a two year lease, but it just doesn't make sense to lease any Subaru for two years right now. Subaru is not really providing much in the way of support on two year leases right now. As a result, lessees who go with a two year deal have to pay a much higher interest rate than those who go with a three year lease.

    Subaru's August buy rate lease money factor for a 24 month lease of a 2009 Forester 2.5X was .00275, which is equivalent to an interest rate of around 6.6%. Compare this to its three year money factor for this model of .00075, or 1.8% and going with a three year lease is a no brainer, even if one really doesn't need the extra twelve months.

    Car_man
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  • Hey gigoypotpot. See my previous post for the difference between the money factors for 24 and 36 month leases of this model. As far as its residual values go, Subaru's August 24 month, 15,000 mile per year resid for a 2009 Forester 2.5X was 59%. The resid for an otherwise identical 36 month lease was 53%. I believe that the 12,000 mile per year residual values for this model would be 1% higher.

    Subaru is scheduled to introduce its new September lease program sometime today. Let me know if you're interested in what the new program is like.

    Car_man
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  • Ha :D , despite its subtlety I got the hint, CJ. Subaru's August lease program just expired yesterday. It is scheduled to introduce a new September program at some point today. For now, I will provide you with the Aug. info. Let me know if you want the new Sept. numbers.

    Subaru's August buy rate lease money factor and residual value for a 36 month lease of a 2010 Forester XT Limited with Navigation and 15,000 miles per year were .00230 and 58%, respectively.

    You never mentioned how long you want to lease for or what mileage allowance you need, so I had to make some assumptions. Let me know if you want something different.

    As far as the Pilot goes, a couple of months ago for some reason Honda decided to pull the plug on its support for most trucks. As a result, the Pilot is an absolutely terrible vehicle to lease right now. It's not a bad truck, but for the life of me I can't understand why anyone would get a Pilot when there is a ton of other nice trucks out there that have much better deals available on them right now. I am surprised that Pilot sales have held up as well as they have.

    Car_man
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  • Thanks Much, Car Man!
    Can you provide the Subaru Forester XT with Navi details when they're released for Sept? 15,000 and 36months.
    I'm heading to the dealership later in Sept and need some amo!
    You're the best.
    Thanks,
    -CJ
  • Could really use these too! Shopping this weekend and next....Thank you.
  • No problem CJ. Subaru's September buy rate lease money factor and residual value for a 36 month lease of a 2010 Forester XT Limited and 15,000 miles per year are .00210 and 58%, respectively.

    What's the inventory situation like in your area right now? I've heard that most Subaru dealers are running pretty lean right now after several consecutive months of record sales.

    Car_man
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  • I'm 10 months into a 36 month lease on a 2009 Subaru Forester. I like the car alot and for financial reasons, am considering buying out the lease early from Chase. Has anyone had any prior experience with this and if so, what should I be looking at to determine if it's in my best interest to do so. Thanks.
  • Car Man

    What are the September lease rates for a 2010 Forester Premium X automatic. The lease on my 08' is up and I'm considering a new one.

    Thanks
    Garybob
  • I can't answer your question but I can recommend penfed for the loan. As edmunds suggested in an earlier article, they do refinance at quite a low rate.
  • Went to a Sub Dealership in Long Island, NY yesterday.
    2.5x Limited with Navi

    $0 down, only first month and DMV Fees
    They wanted $479 a month, 15,000 miles, 39 months.
    Using 55% depreciation and .0021 Money Factor.
    $29,000 for the care plus 8.625% sales Tax

    I rolled in Taxes in.

    I didnt think this quote was way out of whack but felt a little negotiating would get me closer to my goal, $450 per mont. Turns out the guy wouldn't come down 1penny!. Even after telling him if he came down to $460 I'd sign on the dotted line right now. Unreal! I've never seen a dealer act so passive in my life. And I've lease 7 cars prior where they've all come down at least $20 a month on their original quote. He claimed that Subaru's have very little wiggle room an that he alread came down a few hundred from MSRP.

    All and all, he let me walk right out.
    However, he did say that what should bring it down come Oct 1st is a new/lower money factor. So, he was at least honest about that.

    Car Man (or anyone else knowledgable),
    Have you ever heard about Subaru's having very little wiggle room? I'm talking maybe a couple hundred off of MSRP? Someone else I know had the same experience at another dealersip. In fact, that guy wouldnt come down more than $100 from MSRP.

    Also, any idead of the new Oct money factors for Subaru 2.5x Limited With Navi?
    THanks as always,

    -CJ
  • I always hear horror stories about you New York/New Jersey area car buyers. I think the dealers up there are just WAY too greedy.

    In April my wife leased a 2009 Tribeca Special Edition, MSRP $34K for $363 with ZERO DOWN, 36 months, 10K per year. We had to threaten to go out of state to get it down from around $380-$390. Still, patience and persistence and threatening to buy from a different dealer will usually help you achieve your price. The key is to go in with multiple quotes. Even if you have to lie and say X dealer quoted you $X amount. They don't want to lose out on your business to one of their competitors.
  • cdnj1cdnj1 Posts: 16
    Hi, I just made the last payment on my existing lease and will need to get into a new vehicle this month.

    Carman - do you have the new MFs and Residuals for October yet?

    I'm looking for Forester 2.5 Limited for 36 months at either 12k or 15k per year. Can you provide these numbers?

    Thanks,
    chris
  • stoopystoopy Posts: 105
    Carman,

    Could you please share the 2010 Forester 2.5XT Limited lease numbers? I am looking at 36 mo. 10K per year. Thanks.

    Also, the 2.5XT Premium.
  • Hi
    I'm not the carman but I did lease a Forester2.5X Limited with Naviation this past Saturday.
    Here's what I got:
    15,000 per year
    57% Depr.
    .0021 Money Factor
    MSRP was 29,300 and I got him down to 28,500

    I rolled in bank fees and taxes to the monthly payment
    So, the only think I put down was DMV fees and 1st Month Pmt.

    All and all, It came to $473 per month.

    I've leased everything from Nissans to Hondas to Lexus to Audi.
    This was my first Subaru and I have to say that these guys don't show much wiggle room at all. It's almost a kind of "it is what it is" attitude. I went to 4 dealerships on Long Island, NY and almost every salesperson gave my the exact same lease quote. When I tried to tell them I'm willing to sign right now if they can get a little lower, they basically said they can't and let me walk right out the door. I'm not talking a lot lower, I mean something like $475 a month to $465 a month.
    This was a first to me. Every other car make I've lease in the passed always came down at least $20 per month from thier first quote.

    I guess you just have to accept, like I did, that Subaru is more of a niche market that doesnt have nor want the volume out their to compete with Honda and Nissan.
    In other words, they're happy where they.

    Not to go without saying, I believe in the quality of Subaru and was willing to accept the terms.
    I did get them to throw in free oil changes for the life of the lease though! Woohoo!
    lol

    Hope this helped,

    -CJ
  • Greetings Garybob. I would be happy to help you out with the information that you are looking for. This vehicle's lease program varies by term and mileage allowance. You never mentioned what either of these variables are, so for now I will have to make some assumptions. Let me know if you want something different.

    Subaru's current buy rate lease money factor and residual value for a 36 month lease of a 2010 Forester Premium X with 15,000 miles per year are .00210 and 60%, respectively.

    Car_man
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  • Hi CJ. Sorry to hear that dealers in your area aren't more willing to work with you. At least there's a ton of dealerships in your neck of the woods. If the first one or two weren't willing to work with you, perhaps there's another out there that will.

    The problem with buying a Subaru right now is that the company has been absolutely tearing the cover off of the ball to use a baseball analogy in October. Subaru has been setting monthly sales records on a regular basis. The Forester has been especially hot. As a result, its inventory levels in certain areas are pretty thin. Strong demand combined with a reasonable inventory level doesn't provide dealers with much motivation to negotiate.

    As far as this vehicle's lease program goes, Subaru's October buy rate lease money factor and residual value for a 36 month lease of a 2010 Forester 2.5X Limited with 15,000 miles per year are .00210 and 57%, respectively.

    You never mentioned how long you want to lease for or what mileage allowance you need. Let me know if you want something different.

    Car_man
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  • Hi Chris. Here's the info that you're looking for. Subaru's current buy rate lease money factor and residual value for a 36 month lease of a 2010 Forester Limited with 15,000 miles per year are .00210 and 57%, respectively. The residual value for a lease with only 12,000 miles per year would be 1% higher.

    Car_man
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  • Here you go, stoopy. Subaru's current buy rate lease money factor and residual value for a 36 month lease of a 2010 Forester 2.5XT Limited with 10,000 miles per year are .00210 and 60%, respectively.

    The numbers for an otherwise identical lease of a 2010 Forester 2.5XT Premium are .00210 and 62%.

    Car_man
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  • bigdadi118bigdadi118 Posts: 1,207
    It shows how popular the Forester is in its factor .00210 vs Legacy factor .00190

    It is expensive as there's NO incentive to dealer and/or buyer to lower the car selling price.

    Best negotiation now is buy at invoice price or $200 lower if lucky day at end of month. I think dealer is willing to lower a little more if you order the car instead of one in lot, so they have one more car to sell.
  • Thanks, I'm looking to return my 08' Forester as the lease is up and lease a 2010 Premium X all-weather automatic on a 36 month lease with 10K. The sales tax is 8.625% I would like to put down $1,175 and make 35 payments of $334.43. The sales tax is included in these figures. Is this reasonable?
  • Car_man,

    Can you provide the October Buy Rate and Money Factor for 2010 Premium:

    12k 36 months
    12k 42 months

    Appreciate your assistance.
  • I use a good lease calculator at http://www.leaseguide.com/calc.htm using the MF and Residuals posted here. I'm going in next week and getting a 2010 Premium X all-weather: 10K mi, 36 mo. 6% tax, $3300 down.........$215/mo. I'm pretty sure I can get this down closer to $200/mo by negotiating the Cap Cost down to where it should be.
  • If you are putting down $3300 why not just buy it. You can get 3.9% for 60 months. You should never put money down on a lease as it defeats the entire purpose of leasing. Having said that, $215 a month on a Premium seems very high if you are putting down $3300. I had a quote on a Premium with zero down for $318 w/ tax.
  • Nope, $215/mo was right in line. Specific were MSRP 25500, Cap 24000, 3300 down to reduce cap cost. MF of .00210, Residual 16331. Tax 6%. Calculator shows 199 plus 12 tax/mo. Without the down to reduce the cap (zero down), it would be around 300/mo. Just a personal preference - 3300 down upfront, or +100/mo for the 36 months.

    Purchase even worse. 24000 - 3300 down = 20700. 5 yrs at 3.9% puts it close to $400/mo....not worth it to me.
  • Whatever calculator you are using is wrong. 2010 Subaru Forester 2.5X Premium with 10,000 miles residual is 62% and money factor is .00210. If your cap cost (sale price) is $24,000 and you put down $3300. Net cap would be $21,295 including $595 acquisition fee. Residual is $15,810. Monthly payment would be $236 including tax. The problem is you need to negotiate more off the sale price.

    You should never put down money on a lease. Even if you think it lowers your payment by $100 it is still not a good idea. If your car is stolen or totalled in an accident a month into your lease, you are out $3300. Put that money in a savings acount and pay your $100 higher lease payment with it. It's less of a risk.
  • I just received a quote of $398/month with zero down.

    Cap cost $25,696
    Acquisition Fee $895
    9% PA Tax
    57% resid
    .00260

    Should I keep shopping or is this good?
    My credit is A1. Would that affect the money factor?
  • stoopystoopy Posts: 105
    Last I heard it was 62% residual (10K, subtract 1% for 12K and 2% for 15K) and .00210 money factor. Looks like they are taking you for a ride. Acquisiton fee should be $595 not $895. The dealer can adjust any number they want and a shady dealer like the one you are dealing with will probably adjust them all. If you have over 700 FICO you should be at Tier 0 or 1 which is .00210.
  • No problem garybob. The easiest way for me to evaluate this deal would be to take a look at the selling price that it is based upon in relation to either its full MSRP or its dealer invoice price. Let me know what these numbers are and I'm sure that either myself or another knowledgeable community member will tell you what they think.

    Car_man
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  • Here you go mezztro113. Subaru's current buy rate lease money factor and residual value for a 36 month lease of a 2010 Forester Premium with 12,000 miles per year are .00175 and 59%, respectively.

    The numbers for an otherwise identical 42 month lease are .00180 and 54%.

    Car_man
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